8th Aug 2024 Bengaluru, Karnataka, India
TVS Motor Company’s Revenue from Operations in the quarter ended June 2024 is higher at Rs. 8,376 Crores, grew by 16% as against Rs. 7,218 Crores in the quarter ended June 2023. The Company posted its highest-ever Operating EBITDA of Rs. 960 Crores with a growth of 26% for the first quarter of 2024-25 as against EBITDA of Rs. 764 Crores in first quarter of 2023-24. The company’s operating EBITDA margin significantly improved by 90bps at 11.5% as against 10.6% in the quarter ended June 2023.
The Company posted its highest ever Profit Before Tax (PBT) of Rs. 783 Crores recording a growth of 28% for the first quarter of 2024-25 as against Rs. 610 Crores in the first quarter of 2023-24. PBT for the quarter includes notional gain of Rs. 28 Crores towards fair valuation of investments held by the Company. During the current quarter, the Company’s Profit After Tax (PAT) grew by 23% at Rs. 577 Crores as against Rs. 468 Crores during first quarter of 2023-24.
The overall two-wheeler and three-wheeler sales including exports grew by 14% registering sales of 10.87 Lakh units in the quarter ended June 2024 as against 9.53 Lakh units registered in the quarter ended June 2023. Motorcycle sales grew by 11% registering 5.14 Lakh units in the quarter ended June 2024 as against 4.63 Lakh units in quarter ended June 2023. Scooter sales for the quarter ended June 2024 grew by 19% at 4.18 Lakh units as against 3.50 Lakh units in the first quarter of 2023-24. Three-wheeler sales for the quarter under review is at 0.31 Lakh units as against 0.35 Lakh units during first quarter of 2023-24.
Electric Scooter sales for the quarter ended June 2024 is at 0.52 lakh units as against 0.39 lakh units in the quarter ended June 2023.
New Product Launches
During the quarter, Company introduced new variants to TVS iQube portfolio for making electric mobility accessible to everyone. TVS iQube, is now available in three battery options to choose from 2.2 kWh, 3.4kWh and 5.1kWh. TVS iQube series now offers an array of five variants available in vibrant 11 colours, making this one of the largest and most attractive EV portfolios in the market. TVS iQube portfolio is receiving very good response from the customers.